Win with Tinubu grassroots group celebrates Oluremi Tinubu at 65

Members and leaders of the Win With Tinubu (WWT) Grassroots Mobilisation Programme in Kogi State have celebrated First Lady Oluremi Tinubu on her birthday.

The group also commended her contributions to women, children, families and vulnerable Nigerians.

The Kogi State Coordinator of the group, Sani Philips, conveyed the message in a statement shared with journalists on Monday.

Philips, on behalf of the group’s leadership and members, described the First Lady as a figure associated with service and advocacy for vulnerable groups.

He said, ‘On behalf of the leadership, coordinators, executives and entire members of Win With Tinubu (WWT) Grassroots Mobilisation Programme in Kogi State, we warmly celebrate and felicitate with our mother, Her Excellency, Senator Oluremi Tinubu, CON, First Lady of the Federal Republic of Nigeria, on the occasion of her birthday.

‘Your Excellency, we celebrate your remarkable life of service, compassion, dignity and commitment to the well-being of Nigerians.

‘Through your advocacy for women, children, families and vulnerable citizens, you have continued to demonstrate that leadership is not only about occupying a position, but also about touching lives, restoring hope and making a meaningful difference.’

Philips prayed for continued good health, wisdom, strength, peace and divine protection for the First Lady.

He also wished her family continued peace and prosperity and prayed for greater success in her service to the country.

UNGA: Nigeria retains front-row seat with Shettima representing Tinubu, says Jimoh Ibrahim

More than 60 per cent of those listed to speak at the ongoing 81st session of the United Nations General Assembly (UNGA) are being represented by either their vice presidents or foreign ministers, Nigeria’s Permanent Representative to the UN, Ambassador Jimoh Ibrahim, has said.

The envoy also assured that Nigeria would retain its designated position at the UNGA, including its front-row seat, as Vice President Kashim Shettima stands in for President Bola Ahmed Tinubu.

Ibrahim, who chairs the UN Committee on Budget and Administration, said the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, and other top government officials would also join the Vice President at the high-level session.

In a statement by the Nigerian Mission to the United Nations in New York, Ibrahim noted that it is not unusual for countries to delegate representation to senior government officials when their presidents are unable to attend.

‘The Vice President and the Minister of Foreign Affairs are adequately positioned to represent Nigeria at the General Assembly and participate fully in the diplomatic engagements surrounding the session,’ he said. The envoy explained that President Tinubu would not personally attend the session as he is currently in France on annual leave.

‘The absence of the President should not be interpreted as Nigeria being inadequately represented. Our delegation will continue to participate fully in the proceedings,’ he said.

Ibrahim urged Nigerians to view the country’s participation within the broader context of diplomatic representation, stressing that Nigeria would continue to play its role fully at the General Assembly.

Also, President Bola Ahmed Tinubu has mandated Vice President Kashim Shettima to lead Nigeria’s delegation to the 81st Session of the United Nations General Assembly (UNGA) in New York, United States, where he will present the country’s position on major global issues.

Shettima, who will represent the President at the annual gathering of world leaders, will deliver Nigeria’s national statement during the General Debate scheduled to hold from September 22 to 28.

The General Debate, with the theme: ‘Restoring Trust, Managing Transformation: A United Nations That Delivers for All,’ is expected to focus attention on pressing global challenges and efforts to strengthen multilateral cooperation.

A statement yesterday in Abuja by the Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, said Shettima will articulate Nigeria’s priorities on issues affecting national development, peace and security, economic growth and international cooperation.

The Vice President will lead a high-level Nigerian delegation comprising Rivers State Governor Siminalayi Fubara; his Zamfara State counterpart, Dauda Lawal; ministers and other senior government officials to the global event.

Besides delivering Nigeria’s national statement, Shettima is also scheduled to participate in a number of high-level meetings during the UNGA week, including engagements on the Right to Development, climate action and other issues considered strategically important to Nigeria and Africa.

He is also expected to join other world leaders at the traditional reception for Heads of Delegation and hold a series of bilateral meetings with leaders of other countries, international organisations and development partners on the sidelines of the General Assembly.

The Presidency said the engagements would provide another platform for Nigeria to advance President Tinubu’s economic diplomacy and deepen strategic partnerships with other countries and international institutions.

Nigeria is also expected to use the meetings to strengthen its advocacy for reform of the global financial architecture, sustainable development, increased access to climate finance and stronger multilateral cooperation.

The country has consistently pushed for reforms of international institutions to give developing countries, particularly African nations, a stronger voice in global decision-making.

At international forums, the Tinubu administration has also canvassed greater access to development financing for African countries and changes to the global financial system to address what it considers structural constraints confronting developing economies.

Shettima is expected to return to Nigeria at the conclusion of his engagements in New York.

Fury, Joshua bout set for December in Cardiff

Tyson Fury and Anthony Joshua will step into the ring for their highly anticipated heavyweight fight in December in Cardiff, Wales, according to The Athletic.

According to ?the report, Dec. 11 is the target date, but it has to be confirmed and could be changed.

The fighters’ teams are awaiting confirmation from Netflix, Saudi boxing powerbroker Turki Al-Sheikh and Sela, the Public Investment Fund-owned Saudi Arabian entertainment company.

The bout, ?which is said to be worth close to $200 million, will receive financial ?backing from Netflix, which will have broadcast rights.

An announcement could come ?this week if the date and details are finalized.

The heavyweights signed contracts in ?April to face off this year, but finding a date and location has ?been elusive. Each fighter has different location provisions in his contract.

Joshua, 36, has said the bout must be held in the United Kingdom, preferably at Wembley Stadium in London.

New York, Las Vegas ?and Dublin have all been discussed as possible locations.

Netflix wants the bout to ?be held in prime time for a U.S. audience. As a result, TKO Group Holdings brought ?in to assist negotiations for a U.S. venue. Las Vegas was a consideration before a potential deal was brokered to host the bout Nov. 20 at Madison Square Garden in New York.

Joshua and promoter Eddie Hearn had indicated they were ?willing to compromise on ?the location, but ?opted not to drop the clause in their contract calling for the fight to take place in the UK.

According ?to The Athletic, Fury, 38, has agreed to fight Joshua ?in the ?UK.

Principality Stadium in Cardiff, which holds 73,931 fans, is the likely venue because its roof would prevent weather from causing a delay. Also, permits for a later start ?there will ?be easier to secure.

Unlike Wembley Stadium, which commonly ?obeys an 11 p.m. local curfew, Principality Stadium has hosted early-morning sporting events.

The Athletic reported that a ?compromise of 1 a.m. UK time/8 p.m. ET is on the table.

Nigeria omitted from 2026 ITTF Africa Championships in Tangier

The stage is set in Tangier, Morocco, where the 2026 ITTF Africa Championships will unfold from October 18 to 26. Yet one of the continent’s traditional powerhouses, Nigeria, will be conspicuously absent from the team events – a void that speaks volumes about the challenges facing African sport.

Nigeria’s exclusion stems from its failure to attend the regional qualifiers in Conakry, Guinea earlier this year. Financial constraints and soaring ticket prices kept the contingent grounded. Under ITTF Africa’s rules, missing zonal qualifiers means automatic disqualification from the continental showpiece. That absence reshapes the competitive landscape.

Defending champions Egypt, long the standard-bearers of African table tennis, now brace for stiff resistance from Algeria, Tunisia, Uganda, Angola, Cameroon, and others, all eager to seize the spotlight inside Tangier’s 10,000-capacity Salle Omnisports Arena. Introduced four years ago, the qualifiers have become the unforgiving gateway to the Championships, ensuring only those who fight through the zonal battles earn a place on the grand stage.

Still, Nigeria’s story is not one of total silence. The singles categories will feature familiar names. Quadri Aruna, the talismanic captain, and Olajide Omotayo secured their berths through world rankings, while Matthew Kuti and Sultan Agunbiade earned wildcards after standout performances at the Africa Youth Championships in Accra.

On the women’s side, Fatimo Bello and Sukurat Aiyelabegan qualified via rankings, while Kabirat Ayoola, Favour Ojo, and Aziza Sezuo received wildcards thanks to their performances in Ghana.

This year’s tournament promises fireworks across seven events, particularly in the singles. Rising stars and seasoned veterans alike – Hana Goda, Omar Assar, Mehdi Bouloussa, and the Morice sisters, Jade and Tania – are expected to light up Tangier.

The singles competition doubles as a qualifier for the 2027 World Championships in Astana, offering veterans like Aruna a chance to reassert themselves after returning to full action with new clubs in France, Italy, and the United States.

Meanwhile, ITTF Africa has praised Morocco’s meticulous preparations. Following a recent inspection, officials commended the facilities, hotels, and logistics, declaring Tangier ready to host what promises to be a memorable celebration of African table tennis.

Man arraigned for allegedly destroying blocks, stealing roofing planks

A Chief Magistrate’s court sitting in Ado-Ekiti has arraigned a 61-year-old man, Akinola Folorunso, over an alleged malicious damage and stealing.

The prosecutor, ASP Akinwale Oriyomi, told the court that the defendant on or before September 15, 2026 at Ijadu area Ado-Ekiti within Ado-Ekiti Magisterial District maliciously damaged 20 pieces of concrete blocks valued at N140,000, belonging to one Abdullah Isiaka.

ASP Oriyomi said the defendant, on the same date, time and place, allegedly stole 18 pieces of roofing planks valued at N50,000.

The prosecutor noted that the offence committed is contrary to and punishable under Section 354, 302 of the Criminal Laws of EKiti State 2021.

Counsel to the defendant, Barrister F. O. Falade, urged the court to admit his client to bail, that he will not jump bail.

In his ruling, the Chief Magistrate, Mr. Abayomi Adeosun, granted bail of N50,000 with one surety in like sum.

The case was adjourned until October 19, 2026 for hearing.

2027: Southern Kaduna sealed against opposition, says Uba Sani’s aide

The political contest ahead of the 2027 elections has entered a new phase in Southern Kaduna, with Hon. Victor Mathew Bobai, Senior Special Adviser on Public Affairs to Kaduna State Governor Uba Sani and Convener of Friends of Christopher G. Musa, declaring that the region has effectively become a closed political territory for the opposition.

Speaking on Invicta Radio in Kaduna over the weekend, Bobai described the All Progressives Congress (APC)’s ongoing mobilisation as evidence of what he called a ‘total shutdown’ across the 12 local government areas of Southern Kaduna. He said, ‘It is no longer politics; it is a total shutdown,’ listing Kaduna South, Chikun, Kajuru, Kachia, Kagarko, Kaura, Kauru, Sanga, Jema’a, Zangon Kataf, Lere and Jaba as areas where, according to him, the party had built formidable grassroots structures ahead of 2027.

Bobai said the APC’s strength in the area had been reinforced by the emergence of the party’s Deputy Governorship Candidate, Jerry Adams, whom he described as a grassroots politician capable of driving the party’s mobilisation across the region. ‘From Kaduna South, Chikun, Kajuru, Kachia, Kagarko, Kaura, Kauru, Sanga, Jema’a, Zangon Kataf, Lere and Jaba is a shutdown for His Excellency, Comrade Jerry Adams,’ he said. ‘Opposition should look elsewhere, but these LGAs are already sealed and dusted for the APC. We are proud to associate with his energy.’

He added, ‘With Tinubu’s federal university and medical centre in Southern Kaduna, Uba Sani’s roads and hospitals, Jerry Adams’ grassroots fire, and General CG Musa’s Command Schools, Army recruitment drive, MUSAWAH welfare and 23-LGA door-to-door machine, Southern Kaduna is not just sealed; it is bolted, locked and the key thrown into River Kaduna.’

According to Bobai, the APC’s argument in Southern Kaduna goes beyond campaign rhetoric, insisting that the party’s political mobilisation is being supported by what he described as visible evidence of development under President Bola Ahmed Tinubu and Governor Uba Sani. ‘The lockdown is not by mouth. It is by visible evidence of the Renewed Hope Agenda of President Bola Ahmed Tinubu and Governor Uba Sani, now reinforced by the collaborative efforts of the Minister of Defence, retired General Christopher Gwabin Musa,’ he said.

He cited the approval of the Federal University of Applied Sciences in Kachia and the Federal Medical Centre in Kafanchan as federal interventions that, he said, had strengthened the APC’s appeal in Southern Kaduna. He also pointed to major transport and infrastructure commitments in Kaduna, including road projects and other development initiatives, as evidence of the federal government’s attention to the state.

Bobai further highlighted the Uba Sani administration’s road and healthcare projects across Kaduna State, saying the government was implementing more than 78 road projects covering approximately 775 kilometres. He specifically mentioned the Magajiya-Amaru-Unguwan Liman road and the Madauchi-Madakiya-Kafanchan corridor, adding that the 23-kilometre Madauchi-Kafanchan road through Madakiya had been completed and commissioned, while the Jaba-Kwoi road had also been flagged off.

Beyond roads, Bobai cited the upgrading of 255 healthcare centres, the renovation of 15 general hospitals, including Kachia General Hospital, and the completion of 62 new secondary schools. He argued that the infrastructure projects were becoming an important part of the political conversation in Southern Kaduna, particularly because of their direct impact on communities.

The governor’s aide also identified what he called the ‘CG Musa factor’ as another major component of the APC’s emerging grassroots mobilisation strategy. He said General Christopher Gwabin Musa, Minister of Defence and former Chief of Defence Staff, had become associated with interventions in schools, clinics, boreholes, peace-building initiatives and other community-focused programmes, particularly in areas affected by insecurity.

Bobai said the approach also involved youth engagement and development initiatives designed to provide young people with alternatives to criminality and insurgent recruitment. He referenced the Musawah for Youth and Development Initiative, which he described as a platform to encourage youth and women’s participation in national development, and said the Friends of CG Musa network had expanded its grassroots structures across Kaduna’s 23 local government areas.

He said the mobilisation strategy was designed to go beyond rallies and large gatherings by taking political engagement directly to communities and households. ‘House to house. Door to door,’ Bobai said, adding that the Friends of CG Musa network intended to intensify grassroots engagement across the North-West, with Kaduna serving as a major centre of mobilisation for President Tinubu and Governor Uba Sani ahead of the 2027 elections.

Bobai also linked the political mobilisation to security, citing Governor Uba Sani’s revival of the Kaduna State Vigilance Service and plans to recruit 7,000 youths into the community-based security structure. He said the combination of infrastructure delivery, healthcare, education, youth mobilisation, welfare interventions and security initiatives had created what he regarded as a formidable grassroots structure for the APC ahead of 2027.

Wike: My political base cannot be dismantled from Social Media

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has dismissed attempts by political opponents to weaken his influence in Rivers State ahead of the 2027 general elections, saying political victories are won at the grassroots, not on social media.

Speaking against the backdrop of political realignments and opposition efforts to build a coalition against his political structure, Wike said his years of experience had taught him that political battles are ultimately decided by the people.

He also expressed confidence in the ongoing reconciliation between him and Rivers State Governor Siminalayi Fubara, saying the governor had demonstrated sincerity in implementing the agreements reached between them.

‘As far as I am concerned, I don’t have any doubt that the governor is sincere. We have met and agreed on certain things. Before he travelled out, he told us he was going to submit a list of the members of his team that will form part of the campaign council, which he has done,’ Wike said.

According to him, disagreements among political actors supporting the reconciliation process should not be interpreted as a breakdown of the agreement.

‘When a leader says, ‘Look gentlemen, this is what I think,’ some people may not take it easy. It takes time. But on the part of the Governor, he is giving that support,’ he said.

Wike urged those yet to embrace reconciliation to give the process time, stressing that the overriding objective should be to work together.

The FCT Minister also took a swipe at claims by supporters of the Labour Party and the ‘Obidient’ movement that they won the 2023 presidential election in Rivers State.

He said such claims were based on results from limited polling units in urban areas and did not reflect the overall result declared by the Independent National Electoral Commission (INEC).

‘They won by their own imagination. When did INEC declare that they won?’ Wike asked.

He said Rivers State had more than 7,000 polling units and argued that victory could not be determined by results posted from a few polling units in Port Harcourt.

‘You see 50 polling units coming out to say ‘Obi has won’ in Port Harcourt, and they take it to the bank. What about the remaining 6,900-plus polling units?’ he said.

Wike added: ‘You can win on social media, but I am talking practically about the results on the ground.’

Wike traced his political survival to his grassroots connection, recalling his emergence as chairman of Obio-Akpor Local Government Council in 1999 and his subsequent re-election in 2004.

He also recalled the circumstances surrounding his victory in the 2015 governorship election against the backdrop of the political influence of former Governor and minister, Rotimi Amaechi.

‘In 2015, Rotimi Amaechi was Governor. They said because we are from the same area, it would be impossible for me to win. I said the people would decide. At the end of the day, I won,’ he recalled.

Wike described the 2019 governorship election as one of the most difficult political battles of his career, alleging that federal forces were mobilised against his re-election.

‘In 2019, I had federal might against me. The General Officer Commanding (GOC) took it upon himself to ensure I was never returned. I saw soldiers; the Minister of Transportation was dictating terms, and the INEC office was practically moved to the division,’ he alleged.

Despite the alleged pressure, Wike said he emerged victorious because of his relationship with the people.

‘Yet, despite everything that was done, I won. Why? Because when you are with your people, and they appreciate what you are doing, federal forces cannot stop you,’ he said.

Wike also disclosed, for the first time publicly, a conversation he had with his late friend and former Group Managing Director of Access Bank, Herbert Wigwe, shortly before the 2019 governorship election.

According to him, Wigwe visited him at the Rivers State Government House three days before the election and expressed concern about the political situation and his safety.

‘I am saying this for the first time; nobody knew,’ Wike said.

Recounting the encounter, he said Wigwe took him aside, hugged him and asked how he was preparing for the election.

Wike quoted Wigwe as asking: ‘Look, everything is being done to ensure you cannot be returned. Is there any way I can help you adjust and save yourself?’

Wike said he rejected the suggestion, insisting that he had done nothing wrong and was confident of victory.

‘I told him, ‘Herbert, I have nothing to save myself from because I have done nothing wrong. But let heaven come down, I am going to win this election’, he recalled.

According to Wike, Wigwe later travelled out of the country but called him from Miami after the election to congratulate him on his victory.

‘He called me all the way from Miami and said, ‘Nyesom, you won!’ I told him I knew I would, because leadership is about staying true to your people,’ Wike said.

Looking ahead to 2027, Wike said political calculations and alliances would not automatically translate into electoral victory.

He recalled his decision during the 2023 Peoples Democratic Party (PDP) presidential primary and the subsequent political developments, saying leaders must sometimes take difficult positions rather than simply follow popular sentiment within political circles.

‘Leadership is not about being unable to tell your people the truth,’ he said.

Responding to those who believe the political equation in Rivers would be different in 2027, Wike said: ‘So when people gather and say 2027 will not be like 2023, I laugh. Let them come to the grassroots and meet the people’.

Liberia to host 4th CoSPAL General Assembly in December

Liberia will host the 4th General Assembly of the Conference of Speakers and Presidents of African Legislatures (CoSPAL) from December 9 to 11, 2026, in Monrovia.

The conference, organised in collaboration with the House of Representatives of the Republic of Liberia, will be held under the theme: ‘Unleashing Intra-African Trade and Investment: Legislative Priorities and Imperatives for Continental Prosperity.’

The confirmation followed a high-level assessment visit to Monrovia by a delegation from the CoSPAL Secretariat, led by its Secretary-General, Amb. ‘Dapo Oyewole, from September 16 to 20.

During the visit, the delegation reviewed logistical arrangements, inspected hotel facilities and held a session with the Local Organising Committee, led by its Chairperson, Hon. Nehker E. Gaye, as well as relevant Liberian authorities and stakeholders.

The visit culminated in a meeting on Saturday, September 19, with the Speaker of the House of Representatives, Rt. Hon. Richard Nagbe Koon, where the delegation presented its assessment and formally signed the 4th CoSPAL General Assembly Country Host Agreement.

The agreement formalises Liberia’s role as host of the gathering, which will bring together Speakers and Presidents of national legislatures from across Africa.

The assembly will focus on the role of legislative leadership and parliamentary cooperation in unlocking Africa’s economic potential, with particular attention to laws and regulatory frameworks that can facilitate greater mobility, trade and investment across the continent.

Participants will also examine ways of harmonising laws to reduce barriers to intra-African trade and create a more coherent legislative environment for businesses and citizens.

Speaking on the assessment visit, Koon said Liberia was honoured to host the assembly and expressed the country’s readiness to welcome legislative leaders from across Africa.

‘We are delighted to welcome the assessment team from the CoSPAL Secretariat, led by the Secretary-General, Amb. ‘Dapo Oyewole, to Liberia,’ he said.

Koon said the visit provided an opportunity to assess facilities, review processes and ensure that institutional arrangements were in place for the successful hosting of the assembly.

Oyewole said Africa’s economic integration required legislative systems capable of translating continental commitments into practical outcomes.

He said harmonised laws and enabling legislative and regulatory frameworks were essential to making it easier for Africans to move, trade and invest across the continent.

The CoSPAL Secretary-General thanked Koon and the Local Organising Committee for their commitment to hosting the assembly, which he described as an important gathering of Africa’s legislative leadership.

Gaye, who is also Chairperson of the House Committee on Foreign Affairs, said the Local Organising Committee had worked with the CoSPAL Secretariat to assess facilities and review the processes required for a successful assembly.

She commended Koon, the CoSPAL Secretariat, committee members and government agencies for their support.

CoSPAL and the Liberian House of Representatives reaffirmed their commitment to close cooperation ahead of the December meeting, with emphasis on strengthening legislative leadership and harmonising laws to promote intra-African trade, investment and broader economic development.

JUST IN: Nigeria hits 5,330MW generation peak

The Nigerian Electricity Supply Industry (NESI) hit a new generation peak of 5,330MW during August and September.

The Minister of Power, Mr Joseph Tegbe, shared the news in his 100-day scorecard to reporters in Abuja on Monday.

He also disclosed that transmission has been over 5,000 MW in the last few weeks.

He, however, recalled that prior to June this year, peak generation hovered around 3,700MW and 4,700MW.

‘Operational record reports show generation and transmission above 5,000 MW over the past couple of weeks, compared to the 3,700 to 4,700 MW range before June, and a generation peak of 5,330 MW during August and September,’ he said.

He projected that the ministry’s task is to ensure the records result in more dependable supply to customers.

Tegbe added that ‘Our next task is to sustain these gains and translate them into more dependable supply at customer level.

‘We are aware that a national peak alone cannot describe the experience of every community.’

The minister reassured Nigerians that there is no immediate plan to hike electricity tariffs.

He stressed that sustaining the current payment of the electricity subsidy, noting the decision to freeze the tariff, is not a political statement.

He described the news of a roundabout tariff increase as an utter falsehood.

Tegbe said, ‘Without making a political statement, this is not a political statement. This government, the government of President Bola Tinubu, the government of the, where I am the Minister of Power, has no plans to increase tariffs.

‘Anybody pondering around modifying videos or anything like that to insinuate that we are planning to increase tariffs, honestly speaking, it’s not true.

‘So let me tell Nigerians today that this government has no plan to increase tariffs, and I am saying it in my capacity as the Minister of Power.’

According to him, his team has focused on three pillars: stabilising the value chain, restoring market discipline, and strengthening governance.

He added that together, they connect engineering decisions to financial sustainability and public accountability.

Tegbe said under the first pillar, the 375 MW Alaoji open-cycle power plant was restored to the national grid after three years offline.

The minister said a number of substations have been upgraded, noting that new transformers have been commissioned at Apapa, Ijora, Alausa and Lekki in Lagos, unlocking 672MW of transmission capacity, while a new 300 MVA transformer has been energised at Katampe in Abuja, unlocking another 240MW of transmission capacity.

He stressed that these interventions restored existing assets and strengthened the network serving major centres of demand.

SandP Global Ratings awards ratings to BOI’s leasing subsidiary

S and P Global Ratings has assigned ‘B’ long-term and ‘B’ short-term issuer credit ratings, with a stable outlook, to LECON Finance Company Limited, a subsidiary of the Bank of Industry (BOI).

In its September 15, 2026 rating action, SandP Global Ratings identified LECON Finance as a core subsidiary of BOI, noting that its ratings are aligned with those of its parent. SandP expects LECON Finance’s ratings to move in tandem with those of BOI.

Managing Director, LECON Finance, Mrs. Ebehiriere Ehi-Omoike, said the rating was a recognition of the company’s strategic importance within the BOI Group.

She said the recognition reinforced the strength of the company’s business direction and the confidence in its growth prospects.

‘With the support of our parent, our recapitalisation programme and the continued expansion of our finance leasing business, we remain focused on deepening access to productive assets for Nigerian businesses while building a stronger and more sustainable leasing business,’ Ehi-Omoike said.

LECON Finance provides operating lease solutions to BOI and finance leasing solutions to Nigerian clients.

‘For us at LECON, this rating is particularly meaningful because it comes at a time when we are scaling our capacity to provide flexible, asset-backed financing to businesses across Nigeria. We will continue to leverage our partnership with BOI and other stakeholders to expand access to productive assets, particularly for MSMEs, while maintaining strong asset quality, disciplined risk management and sustainable growth,’ Ehi-Omoike said.

SandP noted that operating leases accounted for 57 per cent of LECON Finance’s total leases at year-end 2025, while the company has expanded its finance lease portfolio to Nigerian micro, small and medium-sized enterprises seeking to acquire productive assets.

SandP also highlighted LECON Finance’s close alignment with BOI’s development mandate. Although the company represented approximately 0.5 per cent of the group’s total assets at year-end 2025, the rating agency expects its business to continue expanding.

The rating agency further noted that BOI deposited N20 billion with LECON Finance in 2025, with plans to convert the funds into equity subject to regulatory approval. This forms part of a broader N50 billion recapitalisation programme aimed at strengthening LECON Finance’s capacity to expand its business. SandP also noted BOI’s plans to leverage relationships with other development finance institutions to help LECON Finance mobilise cheaper funding.

SandP expected continued growth in LECON Finance’s finance lease portfolio to further strengthen profitability, with finance leases projected to grow faster than operating leases. The agency also expects asset quality indicators to remain in check and projects continued improvement in profitability.

The Stable Outlook reflects SandP’s expectation that LECON Finance will remain a core subsidiary of BOI and receive support when needed.